Omega Healthcare Investors Reports Strong Q4 and Full Year 2024 Results

By Tamara Parker • Thursday, February 06 06:08 • Permanent Link

Omega Healthcare Investors, Inc. has reported its results for the fourth quarter and full year of 2024. In the fourth quarter of 2024, the company's net income was $116 million, or $0.41 per common share, which is a significant increase from the $57 million, or $0.22 per common share, reported in Q4 of 2023. The NAREIT Funds from Operations (FFO) for the quarter were $196 million, or $0.68 per common share, a notable increase from $129 million, or $0.50 per common share, in Q4 2023. The Adjusted Funds from Operations (AFFO) for the quarter also saw an increase to $214 million, or $0.74 per common share, compared to $173 million, or $0.68 per common share, for Q4 2023. Additionally, Funds Available for Distribution (FAD) for the quarter were $202 million, or $0.70 per common share, showing growth from $163 million, or $0.64 per common share, for Q4 2023.

For the full year 2024, Omega Healthcare Investors, Inc. reported a net income of $418 million, or $1.55 per common share, compared to $249 million, or $1.00 per common share, in 2023. The NAREIT FFO for the full year 2024 was $734 million, or $2.71 per common share, showing an increase from $591 million, or $2.36 per common share, in 2023. Similarly, the AFFO for the full year 2024 saw an increase to $778 million, or $2.87 per common share, compared to $699 million, or $2.79 per common share, in 2023. The FAD for the full year 2024 was $739 million, or $2.73 per common share, as opposed to $657 million, or $2.62 per common share, in 2023.

The company completed approximately $340 million in new investments in Q4 2024, consisting of $179 million in real estate acquisitions and $162 million in real estate loans. Additionally, 11 million common shares were issued in Q4 for gross proceeds of $438 million. In Q1 2025, the company completed $26 million in new investments.

In terms of financial position, as of December 31, 2024, Omega had $4.9 billion in outstanding indebtedness with a weighted-average annual interest rate of 4.6%. The company's total cash and cash equivalents were $518.3 million, and it had $1.45 billion of undrawn capacity under its unsecured revolving credit facility.

The company also provided guidance for 2025, expecting its adjusted FFO to be at a certain level.

Today the company's shares have moved 1.9% to a price of $38.32. If you want to know more, read the company's complete 8-K report here.

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